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Friday, August 12, 2022

U.S. becomes biggest buyer of ‘Made in Vietnam’ phones

The Saigon Times

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HCMC – In the first half of 2022, the United States overtook China to become the biggest buyer of made-in-Vietnam phones and phone parts.

Vietnam exported phones and phone parts worth over US$6.6 billion to the United States between January and June, jumping by 53.7% year-on-year, according to statistics from the General Department of Vietnam Customs.

China came second with a value of US$6.5 billion during the six-month period, up 16.6% year-on-year, followed by the European Union and South Korea.

The country’s outbound shipments of phones and phone parts in the first half amounted to some US$29.2 billion, up 16.4% year-on-year, the local media reported.

Over the past few years, phones and phone parts have been Vietnam’s largest export revenue generator. In 2021, phone exports fetched US$57.5 billion, 25 times higher than the US$2.3 billion recorded in 2010.

Meanwhile, the first half of the year saw the country spend US$10.3 billion on phone imports, up 13.5% year-on-year. South Korea was Vietnam’s largest phone and phone part supplier, shipping these items worth US$5.1 billion to the latter, up 28.3% year-on-year, followed by China with a value of US$4.2 billion.

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